Week 1 Dow Theory Idea 4: MARI Week 1 Dow Theory Idea 4: MARI (Bullish/Long)
MARI continues to display bullish momentum, offering two distinct trade plans for investors to consider. Plan 1 has been executed, while Plan 2 presents an alternative entry opportunity for traders seeking to capitalize on the upward trend.
Plan 1:
Entry Point: Established at 1,717, this entry marks the initiation of a long position in alignment with the bullish sentiment observed in the chart.
Stop Loss: Positioned at 1,676, the stop loss serves to mitigate potential losses in the event of an adverse market reversal, preserving capital and managing risk effectively.
Take Profit (TP1): Targeted at 2,500, TP1 represents the initial profit-taking level, reflecting a significant upside potential in the bullish trend.
Plan 2:
Entry Point 2: Identified at 2,227, this entry offers an alternative opportunity for traders to enter the market, potentially capturing further gains as the bullish momentum continues.
Take Profit (TP2): Set at 2,622, TP2 represents a higher profit target, reflecting the anticipation of extended bullish movement in the price of MARI.
MARI trade ideas
MARI - Long Based on the chart, it seems a bullish cup and handle trend is forming. The breakout level is at the blue line. If the stock happens to break that, it will be in a bullish trend.
Fundamentally, MARI is a good stock and current news are in favor as well. This is a long term holding stock.
August 2023 Market Outlook: Potential Support and Rebound Based on technical chart analysis, it appears that most stocks in the Kse30 index have reached monthly support levels. As we approach the end of August 2023, instead of expecting a significant fall, there's potential for support, a rebound, or a tight spread. Feel free to watch the video and analyze it for yourself. #TechnicalAnalysis #StockMarketInsights